IDX suspends shares after large gains SQMI?

JAKARTA. The Indonesia Stock Exchange (IDX) suspended trading of PT Renuka Coalindo (SQMI) stock on Thursday in an attempt to “cool down” the movement of the company’s shares.

The company’s share price soared from Rp 450 on Jan. 10 to hit Rp 1,010, a 124.44 percent increase, before the suspension.

“The temporary suspension on SQMI’s shares was done on the regular market and cash market to give an adequate time for market players to assess their investment choices in SQMI based on the circulating information,” the stock exchange said in a press statement.

Renuka Coalindo’s share prices hovered between Rp 150 to Rp 465 in 2011. (Esther Samboh/The Jakarta Post)

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